To Implement Blockchain To Generate Automation Within Businesses And Corporations


Currently it is difficult to imagine companies without bosses, employees, shareholders or any structure, but they are present, it is known as Decentralized Autonomous Organization DAO, and are based precisely on the decentralization of block chains, innovative technology.

However, for certain groups of people blockchain technology is still puzzling and yet it does not stop transforming our society, although sometimes imperceptibly. From finance, to recording information in supply chains or business organization as we know it today.

It should be noted that a DAO company lacks any staff and does not have a board of directors or shareholders. Most similar to these are tokens holders (tokens or groups of data representing a set of information), who are the ones who have the right to vote the proposals that the organization faces.

In the same way, these virtual companies work with the blockchain of Ethereum, a platform to create intelligent contracts that serve to give legitimacy to legal, financial and social agreements of all kinds, as it does in a common contract.

These proposals are projects and the professionals are responsible for taking them forward, because a DAO does not have a specific business role. The projects conform to the following way for the developer who charges its creation in virtual currency:

1-A candidate submits his proposal, token “shareholders” vote for or against, and if he is ultimately elected (for which a minimum of 20% of the tokens are required), a contribution contract is awarded for To develop the project.

2-From there the new member of the DAO has to comply with the conditions of said contract and deliver his project in a timely manner, otherwise the token holders withdraw their votes.

It is of note that the DAO are intelligent companies because they seek is the maximum effectiveness. They are organized around smart contracts and the value of projects, not based on the people or positions they support; Thus creating the perfect environment to foster innovation and implement marketing techniques.

According to the presence of workers, nobody is essential. Who is not productive for the organization, runs out of votes and is expelled. That is why the dynamics are much more agile than in a conventional company, generating automation par excellence.

However, the DAOs that exist today are still very primitive, but they could be the germ of something greater that connects professionals from all over the world. Who knows if the work of the future will have this structure, and instead of fixed contracts we have distribution contracts.

Reference: ticbeat.com

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